Teza Capital Management LLC Makes New Investment in The Allstate Corporation $ALL

Key Points

• Teza Capital Management LLC has acquired 2,061 shares of The Allstate Corporation, valued at approximately $427,000, according to its latest Form 13F filing.
• Several institutional investors have also made significant investments in Allstate, resulting in institutional ownership of 76.47% of the company's stock.
• The Allstate Corporation reported an earnings per share (EPS) of $5.94 for the last quarter, exceeding estimates by $2.74, although it fell short of revenue expectations.

Teza Capital Management LLC bought a new stake in shares of The Allstate Corporation (NYSE:ALL - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,061 shares of the insurance provider's stock, valued at approximately $427,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sequoia Financial Advisors LLC grew its holdings in shares of Allstate by 30.3% in the first quarter. Sequoia Financial Advisors LLC now owns 11,361 shares of the insurance provider's stock valued at $2,352,000 after purchasing an additional 2,643 shares in the last quarter. Atlas Capital Advisors Inc. grew its holdings in shares of Allstate by 197.3% in the first quarter. Atlas Capital Advisors Inc. now owns 6,712 shares of the insurance provider's stock valued at $1,390,000 after purchasing an additional 4,454 shares in the last quarter. Richard Bernstein Advisors LLC purchased a new position in shares of Allstate in the first quarter valued at $3,341,000. Dock Street Asset Management Inc. purchased a new position in shares of Allstate in the first quarter valued at $207,000. Finally, First Citizens Bank & Trust Co. increased its stake in Allstate by 5.5% during the first quarter. First Citizens Bank & Trust Co. now owns 57,499 shares of the insurance provider's stock worth $11,906,000 after acquiring an additional 2,981 shares during the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Wells Fargo & Company set a $202.00 price objective on Allstate and gave the stock an "equal weight" rating in a research note on Tuesday, August 5th. Raymond James Financial reaffirmed a "strong-buy" rating and set a $260.00 price objective (up from $250.00) on shares of Allstate in a research note on Monday, August 4th. UBS Group lifted their price objective on shares of Allstate from $230.00 to $235.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Cantor Fitzgerald raised shares of Allstate to a "hold" rating in a research note on Wednesday, August 13th. Finally, Keefe, Bruyette & Woods upped their price objective on Allstate from $237.00 to $246.00 and gave the company an "outperform" rating in a research report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $231.21.

Allstate Trading Down 0.8%

Shares of NYSE ALL traded down $1.70 during trading hours on Friday, reaching $200.77. The stock had a trading volume of 655,751 shares, compared to its average volume of 1,688,010. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.37. The firm has a market cap of $52.90 billion, a price-to-earnings ratio of 9.43, a P/E/G ratio of 0.80 and a beta of 0.37. The business's fifty day moving average price is $200.92 and its two-hundred day moving average price is $200.30. The Allstate Corporation has a 52-week low of $176.00 and a 52-week high of $214.76.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.20 by $2.74. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The firm had revenue of $15.05 billion during the quarter, compared to analyst estimates of $16.59 billion. During the same quarter in the previous year, the business earned $1.61 earnings per share. Allstate's quarterly revenue was up 5.8% on a year-over-year basis. Analysts expect that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, August 29th will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Friday, August 29th. Allstate's dividend payout ratio is currently 18.81%.

About Allstate

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.